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Why Paying off Debt is More Important than Saving or Investing
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[QUOTE="Mika, post: 264824, member: 29399"] The total market value of Apple Inc is $2.72 trillion. Apple has $202.6 billion in liquid assets (cash and investment). Despite sitting on a pile of cash, apple frequently borrows money and now Apple’s total debt is $287.91 billion. If the company wants, it can pay most of its debt but it continues borrowing. When apple borrows, they have strategic financial plans, however, for common people, the first step to improving finances is by paying off debt. You need to save and invest to build your wealth. However, you can start saving and investing only when you have paid off your debt. If you borrowed for investment purposes, and if you are earning more return on investment compared to the interest you are paying on your debt that could be a good move. However, for average people paying off debt is the best way to build financial health. Paying debt is even more important during the recession as the interest rates are increasing and you will be paying more. Therefore, you will have to increase your repayment amount. [/QUOTE]
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